Swiss Largest Stock Exchange Seeks to Launch a Stablecoin Tied with Swiss Franc

[ChainDD report] May 23 (ChainDD) CoinDesk learned SIX Swiss Exchange (“SIX”), Swiss’ largest and one of the top 20 stock exchanges in the world, is studying development of its own stablecoin to promote transactions on its platform.

A spokesman of SIX confirmed the exchange is currently working on a Swiss franc pegged stablecoin but didn’t reveal whether the coin will be used only inside, just as JP Morgan’s digital currency JPM Coin, or like the common stablecoins that can be used to trade on crypto exchanges.

CoinDesk said if SIX’s stablecoin will be developed for internal use, it could help perform some tasks, such as atomic swaps of tokenized securities or other securities on blockchain.

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